! "#$%&'!()")$&*)'!+,!-./0/123/45!+,!6&**)$)'!7)!8)**&'!&$6)'! ! ! )5!9:/;,:!0-<2:!=,!>25!+,!3?5?3,:!02=!=20/+2=!+,!,;,:<,53/2!@!0?=!;,+/?=!+,! ,A./53/45!+,!/53,5+/?=!+,!0?=!B-,!+/=9?5,!,0!,=923/?C!9?:!=/!D-,=,!5,3,=2:/?! -./0/12:0?=E!',!+,F,5!;25.,5,:!02=!GH2=!+!,G23-23/45!0/F:,=!+,!?F=.I3-0?=! "?!,=.I!9,:;/./+?!>23,:!D-,<?E!! "?!,=.I!9,:;/./+?!/5.:?+-3/:!?!20;23,52:!3?;/+2!?!F,F/+2!,5!0?=!,=923/?=! +?5+,!=,!20;23,525!?!-./0/125!9:?+-3.?=!B-H;/3?=E!! "?!,=.I!9,:;/./+?!D-;2:E! ! "#$%&'!7)!8J)"&'!K$LM6NM&'! ! ',!>25!+,!-./0/12:!0?=!,B-/9?=!+,!9:?.,33/45!/5+/G/+-20!2+,3-2+?=!2!02=! 23./G/+2+,=!=,<O5!0?!/5+/32+?!9?:!,0!9:?D,=?:!?!.P35/3?!+,!.200,:Q!<2D2=!+,! =,<-:/+2+C!<-25.,=C!;2=32:/002=C!1292.?=!+,!=,<-:/+2+C!9:?.,33/?5,=!2-+/./G2=C! 29:?9/2+2=!92:2!,0!./9?!+,!.2:,2E! ',!>2!+,!-./0/12:!02!/5+-;,5.2:/2!2+,3-2+2!RF2.2!?!;?5?S!+,!;25,:2!B-,!02=! ,A.:,;/+2+,=!B-,+,5!3-F/,:.2=E! )0!32012+?!>2!+,!=,:!3,::2+?E!"?!=,!>2!+,!-./0/12:!;,+/2=!9-,=!,=!9,0/<:?=?!,5! 32=?!+,!/53,5+/?!?!+,!3?5.23.?!3?5!9:?+-3.?=!B-H;/3?=E! )0!32F,00?!02:<?!=,!>2!+,!00,G2:!:,3?</+?E!! "?!=,!>2!+,!00,G2:!F:2120,.,=C!9-0=,:2=C!3?002:,=C!3?0<25.,=C!;25<2=!253>2=C! ,.3E!B-,!9-,+25!,5<253>2:=,!2!02=!;IB-/52=E! "-532!=,!>2!+,!.:2F2T2:!=40?!,5!,0!.200,:!3-25+?!=,!-./0/3,5!;2.,:/20,=!?! >,::2;/,5.2=!9,0/<:?=2=! ! "#$%&'!8L'NM&'!7)!8J)"&'!K$LM6NM&'! ! ',!>2!+,!;25.,5,:!=/,;9:,!,0!?:+,5!@!02!0/;9/,12!+,0!0-<2:!+,!.:2F2T?!+-:25.,!02! 9:I3./32!@!20!D/520/12:02E! M-25+?!=,!>25!320,5.2+?!;2.,:/20,=!>2@!B-,!3?;9:?F2:!02!.,;9,:2.-:2!25.,=! +,!3?<,:0?=!+/:,3.2;,5.,!3?5!02=!;25?=!R5?!=,!./,5,5!B-,!3?<,:!3?5!02=!;25?=! +,=9:?.,</+2=!;2.,:/20,=!320/,5.,=!?!9:?+-3.?=!/::/.25.,=C!3?::?=/G?=!?! +,=3?5?3/+?=SE! U2@!B-,!;25.,5,:!3,::2+2=!02=!GI0G-02=!+,!02=!F?.,002=!,!/5=.2023/?5,=!+,!<2=,=! 3?;F-=./F0,=!3-25+?!5?!=,!-./0/3,5E! ! K$#7JM6#'!VJW%NM#'! ! &5.,=!+,!-./0/12:!-5!9:?+-3.?!B-H;/3?!9?:!9:/;,:2!G,1!=,!./,5,!B-,!0,,:!02! ,./B-,.2!+,0!9:?+-3.?!@!3?5=-0.2:!02!D/3>2!+,!=,<-:/+2+E! X!U2@!B-,!,./B-,.2:!2+,3-2+2;,5.,!0?=!:,3/9/,5.,=!B-,!3?5./,5,5!9:?+-3.?=! .:2=G2=2+?=!?!3?5!;,1302=!9:,92:2+2=!R3?5!,0!5?;F:,!+,0!9:?+-3.?!@!02! /5D?:;23/45!+,!02!9,0/<:?=/+2+SE! X!5?!=,!./,5,5!B-,!:,-./0/12:!:,3/9/,5.,=!B-,!?:/</52:/2;,5.,!3?5.-G/,:25! 20/;,5.?=!?!F,F/+2=!92:2!<-2:+2:!9:?+-3.?=!B-H;/3?=C!+/=?0G,5.,=!-!?.:2=! =-=.253/2=E! X!*?=!;2.,:/20,=!/55,3,=2:/?=!=,!./,5,5!B-,!20;23,52:!@!?:+,52:!?!=,!./,5,5!B-,! ,0/;/52:!3?;?!:,=/+-?C!92:2!,G/.2:!02!23-;-023/45!+,!;2.,:/20,=!+,!DI3/0! 3?;F-=./45!B-,!9-,+25!9:?92<2:!,0!D-,<?E! X!*?=!9:?+-3.?=!/5D02;2F0,=!=,!./,5,5!B-,!-./0/12:!,5!02=!325./+2+,=! /;9:,=3/5+/F0,=!@!20;23,52:0?=!,5!-5?!0-<2:!=/./?!2+,3-2+?!R2:;2:/?SE!*?=! :,3/9/,5.,=!5?!=,!./,5,5!B-,!+,T2:!2F/,:.?=!;/,5.:2=!=,!.:2F2T2E! X!7,=9-P=!+,!;25/9-02:!9:?+-3.?=!B-H;/3?=!,=!5,3,=2:/?!02G2:=,!02=!;25?=E!! X!*?=!9:?+-3.?=!B-H;/3?=!5?!=,!./,5,5!B-,!?0,:!+/:,3.2;,5.,!5/!9:?F2:E! ! %)7N#!&%8N)"6)!Y!$)'N7J#'! ! X!M-25+?!=,2!9?=/F0,C!,=!3?5G,5/,5.,!=-=./.-/:!0?=!+/=?0G,5.,=!.4A/3?=!9?:!?.:?=! +,!;,5?=!.?A/3/+2+C!3?;?!0?=!+/=?0G,5.,=!G,<,.20,=!,3?04</3?=E! X!*?=!+/=?0G,5.,=!@!?.:?=!9:?+-3.?=!/5D02;2F0,=!5?!=,!./,5,5!B-,!-./0/12:! /5+/=3:/;/52+2;,5.,Z!0?=!9/53,0,=!=-3/?=!+,!9/5.-:2!20!23,/.,!9-,+,5!0/;9/2:=,! 3?5!2<-2!@!T2F45E! X!&0<-5?=!9/<;,5.?=!3?5./,5,5!90?;?C!3:?;?!@!?.:?=!;,.20,=!9,=2+?=!;-@! 5?3/G?=!92:2!02!=20-+!@!92:2!,0!;,+/?!2;F/,5.,E! X!*?=!:,=/+-?=!R:,=.?=!+,!+/=?0G,5.,=C!9/5.-:2C!.:29?=!/;9:,<52+?=!+,!<:2=2C!,.3ES! 5?!=,!./,5,5!B-,!02G2:!,5!0?=!D:,<2+,:?=Z!=,!./,5,5!B-,!<,=./?52:!+,!23-,:+?! 3?5!02=!5?:;2=!+,0!'/=.,;2!+,!(,=./45!&;F/,5.20E! X!*?=!+,::2;,=!+,!;2.,:/20,=!.4A/3?=!=,!./,5,5!B-,!:,3?<,:!/5;,+/2.2;,5.,!@!,=! 9:,D,:/F0,!>23,:0?!3?5!;2.,:/20!2F=?:F,5.,!2+,3-2+?E! X!)G/.2+!.25.?!3?;?!=,2!9?=/F0,!02!-./0/123/45!+,!9:?+-3.?=!,5!D?:;2!+,!,=9:2@=! 9?:B-,!=?5!5?3/G?=!@!20.2;,5.,!/5D02;2F,=!@!3?5.2;/525.,=Z!,5!.?+?!32=?! -./0/12:0?=!3?5.:?02+2;,5.,E! ! %LVJN"&'! ! X!"?!-./0/12:!;2B-/52:/2!=/5!.,5,:!-5!3?5?3/;/,5.?!9:,G/?!@!=/5!B-,!,=.P! 9:,=,5.,!,0!9:?D,=?:!:,=9?5=2F0,!?!,0!.P35/3?!+,!.200,:E! X!',!./,5,5!B-,!3?5?3,:!02=!/5=.:-33/?5,=!+,!-=?!@!0?=!:/,=<?=!+,:/G2+?=!+,!=-! -./0/123/45E! X!&5.,=!+,!,;9,12:!2!.:2F2T2:!=,!./,5,!B-,!?F=,:G2:!,0!,=.2+?!+,!02!;IB-/52! R32F0,=C!,53>-D,=C!9/,12=C!-./002T,C!,.3ES!@!B-,!0?=!+/=9?=/./G?=!+,!9:?.,33/45!,=.P5! 3?0?32+?=!@!F/,5!3?5=,:G2+?=E! X!"?!=,!9-,+,5!:,./:2:!0?=!+/=9?=/./G?=!+,!9:?.,33/45!F2T?!5/5<O5!3?53,9.?E! 7-:25.,!,0!.:2F2T?!=,!./,5,5!B-,!-./0/12:!,;9-[2+-:2=!92:2!29:?A/;2:!02=!9/,12=E! X!M-25+?!02!;IB-/52!,=.I!,5!D-53/?52;/,5.?!>2@!B-,!,G/.2:!02!9:,=,53/2!+,! ?.:2=!9,:=?52=!,5!.?:5?!20!-=-2:/?E! X!M-25+?!02!;IB-/52!5?!=,!-./0/12!./,5,!B-,!,=.2:!.?.20;,5.,!92:2+2C! +,=3?5,3.2+2!@!3?5!02=!9:?.,33/?5,=!9-,=.2=EE! ! U)$$&%N)"6&'! ! X!U2@!B-,!-./0/12:!02=!>,::2;/,5.2=!2+,3-2+2=!2!32+2!./9?!+,!.:2F2T?E! X!5?!=,!9-,+,5!-./0/12:!>,::2;/,5.2=!9,0/<:?=2=!=/5!,0!3?5?3/;/,5.?!@!02! 2-.?:/123/45!+,0!9:?D,=?:!:,=9?5=2F0,!?!+,0!;2,=.:?!+,!.200,:E! X!U2@!B-,!:,G/=2:!0?=!32F0,=!,0P3.:/3?=!+,!02=!>,::2;/,5.2=!B-,!=,!,53>-D25! 25.,=!+,!-=2:02=E! X!',!,G/.2:25!0?=!202:<2+?:,=C!3-25+?!=,2!9?=/F0,E! X!*2=!>,::2;/,5.2=!=,!./,5,5!B-,!;25.,5,:!,5!F-,52=!3?5+/3/?5,=!+,!-./0/123/45! @!=,!./,5,5!B-,!<-2:+2:!,5!=-!0-<2:!3-25+?!=,!>2!232F2+?!,0!.:2F2T?E! X!M-25+?!=,!.,5<25!B-,!.:25=9?:.2:!,=!3?5G,5/,5.,!9:?.,<,:!02=!92:.,=! 3?:.25.,=!@!-./0/12:!:,3/9/,5.,=!2+,3-2+?=E! ! %&"NKJ*&MN\"!7)!M&$(&'! ! X!"?!=,!+,F,:H25!;25/9-02:!32:<2=!=-9,:/?:,=!2!]^!_<!R`^!_<!,5!,0!32=?!+,!02=! ;-T,:,=SE! X!M-25+?!=,!.,5<25!B-,!.:2=02+2:!32:<2=!=,!9:?3-:2:I!-./0/12:!;,+/?=!;,3I5/3?=C! 3?;?!02=!32::,./002=!32::,.?5,=C!?!9,+/:!2@-+2!2!0?=!3?;92[,:?=E! X!K2:2!0,G25.2:!-52!32:<2!,=!3?5G,5/,5.,!3?0?32:=,!+,025.,C!29?@2:!3?5!D/:;,12! 0?=!9/,=!,5!,0!=-,0?C!+?F02:!02=!9/,:52=!D0,A/?525+?!02=!:?+/002=!@!3?<,:02C! ;25.,5/,5+?!02!,=920+2!:,3.2E!K2:2!0,G25.2:02!=,!./,5,!B-,!-./0/12:!02!D-,:12!+,! 02=!9/,:52=!@!;25.,5,:!02!32:<2!9:4A/;2!,5!,0!3-,:9?E! ! ! ')(J$N7&7! K?0/3H2!"23/?520!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEab`!! K?0/3H2!%-5/3/920EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEab]!! (-2:/+2!M/G/0!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEac]!! 8?;F,:?=EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!EEEEEEEEEEEEEEEEEEEEEEEada!! J:<,53/2=EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE``]! ! ! 6&**)$)'!7)!8)**&'!&$6)'! ! `E!)5!0?=!.200,:,=!+,!9/5.-:2C!,=3-0.-:2C!<:2F2+?C!,=.2;923/45CEEE-./0/12!F2.2!+,! 20<?+45!92:2!,G/.2:!=209/32+-:2=!+,!9/5.-:2!?!+,!9:?+-3.?=!B-H;/3?=E!)G/.2!,0! 3?5.23.?!3?5!9/<;,5.?=C!+/=?0G,5.,=!@!I3/+?=E!$,=9,.2!02=!/5+/323/?5,=!+,!02=! D/3>2=!+,!=,<-:/+2+!+,!0?=!9:?+-3.?=!B-H;/3?=C!2=H!3?;?!02!-./0/123/45!+,!0?=! ,B-/9?=!+,!9:?.,33/45!/5+/G/+-20!3?::,=9?5+/,5.,=E!M?5=-0.2!2!.-!9:?D,=?:!?! ;2,=.:?!+,!.200,:!25.,!3-20B-/,:!+-+2E!"?!?0G/+,=!B-,!,5!0?=!.200,:,=!9-,+,5! ,A/=./:!9:?3,+/;/,5.?=!92:./3-02:,=!B-,!>2F:I!B-,!:,=9,.2:!?!3-;90/:E! ! ]E!)5!02=!.2:,2=!+,!9/5.-:2!+,F,!,A/=./:!-52!F-,52!G,5./023/45!<,5,:20C!+,F/,5+?! 3?;90,;,5.2:=,!3?5!;I=32:2!/5.,<:2+2!+,!G29?:,=!?:<I5/3?=!3-25+?!=,! ,;90,,5!+,!D?:;2!3?5./5-2+2!+/=?0G,5.,=C!2,:?=?0,=!?!0232=C!=/,;9:,!B-,!5?! ,A/=.2!32F/52!+,!,A.:233/45!0?320/12+2!92:2!02!:,20/123/45!+,!02!.2:,2E!M-25+?!=,! +,=9:,5+25!92:.H3-02=!=40/+2=!+,F,:I5!,;90,2:=,!;2=32:/002=!+,!:/,=<?! 9-0GH<,5?E! ! eE!J=2!<-25.,=!,5!02!;25/9-023/45!+,!9:?+-3.?=!B-H;/3?=!@!+-:25.,!02!0/;9/,12! +,!90253>2=C!;2.:/3,=!?!.:2.2;/,5.?!+,!=-9,:D/3/,=E!M?5=-0.2!02!.?A/3/+2+!+,0! 9:?+-3.?!B-H;/3?!B-,!,;90,,=E!"?!-./0/3,=!:,3/9/,5.,=!+,!0?=!B-,!/<5?:,=!,0!./9?! +,!0HB-/+?!B-,!3?5./,5,5E! ! fE!"-532!;,5?=9:,3/,=!,0!:/,=<?!+,!02!;2B-/52:/2!@!+,0!,B-/9?!?!>,::2;/,5.2=! B-,!-./0/3,=C!2-5B-,!=,25!92:2!-=?!2:.H=./3?E! ! ^E!6:2F2T2!O5/32;,5.,!,5!,0!0-<2:!/5+/32+?C!9?:!,0!9:?D,=?:!?!;2,=.:?!+,!.200,:C!@! +,9?=/.2!0?=!.:2F2T?=!:,20/12+?=!,5!,0!0-<2:!+?5+,!,00?=!.,!/5+/B-,5!@!5-532! D-,:2!?!,5!?.:?!0-<2:E! ! &M6J&MN#")'!)"!M&'#!7)!&MMN7)"6)Q!K$N%)$#'!&JgN*N#'! ! `E!)5!32=?!+,!233/+,5.,!)5!32=?!+,!<:2G,+2+!002;2!20!``]E!! $,3-,:+2!B-,!5?!+,F,=!00,G2:!2!32F?!23.-23/?5,=!/5=,<-:2=C!=/!G2=!2!:,20/12:!0?=! 9:/;,:?=!2-A/0/?=!./,5,=!B-,!,=.2:!=,<-:?h2!+,!5?!,;9,?:2:!,0!,=.2+?!+,0! 233/+,5.2+?!R9:?.,33/45S!@!2=,<O:2.,!+,!B-,!.O!5?!=-D:,=!:/,=<?! R2-.?9:?.,33/45SE! ! ]E!i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eE!i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fE!V-,;2+-:2=E!*2=!9,B-,[2=!B-,;2+-:2=!9:?+-3/+2=!9?:!;2.,:/20!320/,5.,C! F2[?=C!90232=C!9:?+-3.?=!B-H;/3?=C!>?:5?=C!,.3EC!=,!.:2.2:I5!02G25+?!02!1?52! 2D,3.2+2!3?5!2<-2!D:H2!+-:25.,!`aj!`^!;/5-.?=E!7,=/5DP3.202!R9?:!,TE!3?5!@?+?S!@! 3OF:,02!3?5!<2=2=E!"?!290/B-,=!-5<k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cE!&3.-23/45!,5!32=?!+,!/5>2023/45!+,!<2=,=!?!9:?+-3.?=!B-H;/3?=E!M?5+-3,! /5;,+/2.2;,5.,!2!02!9,:=?52!2D,3.2+2!2!-5!=/./?!3?5!2/:,!D:,=3?E!$,B-/,:,! 2=/=.,53/2!;P+/32!/5;,+/2.2E!&0!9:/;,:!=H5.?;2!+,!+/D/3-0.2+!:,=9/:2.?:/2!+,F,! /5/3/2:=,!02!:,=9/:23/45!2:./D/3/20!F?32!2!F?32E!N+,5./D/32C!=/!,=!9?=/F0,C!,0!<2=! 32-=25.,C!-=2!02!;I=32:2!2+,3-2+2!@!=/!5?!+/=9?5,=C!2<-25.2!02!:,=9/:23/45! ;/,5.:2=!=,!,A./5<-,!,0!G29?:!R2F:/,5+?!G,5.252=C!-=25+?!32;9252=C!,.3SE!6:2.2! +,!5?!,A9?5,:.,!,5!3-20B-/,:!32=?E! ! ! )*N%N"&MN\"!7)!$)'N7J#'! ! `E!%2.,:/20!+,!3:/=.20!:?.?C!G/:-.2=C!:,3?:.,=!+,!3>292!@!?.:?=E!',!+,9?=/.2:I5!,5! 0?=!:,3/9/,5.,=!+,=./52+?=!,=9,3/20;,5.,!2!,=.,!D/5E!M?5=-0.2:!,5!32=?!+,!=,:! 5,3,=2:/?! ! ]E!K:?+-3.?=!B-H;/3?=!R23,/.,=C!.202+:/52=C!+/=?0G,5.,=C!=?F:25.,=!+,!9/5.-:2EEES! ',!+,9?=/.2:I5!,5!3?5.,5,+?:,=!,=9,3/20,=!92:2!,=.,!D/5E!"?!./:,=!+/:,3.2;,5.,! 20!D:,<2+,:?!9:?+-3.?=!B-,!:,233/?5,5!3?5!,0!2<-2!R=?+/?C!>/+:-:?=C!2;/+-:?=C! >20?<,5-:?=!+,!I3/+?SC!B-,!=,25!/5D02;2F0,=!R+/=?0G,5.,=SC!B-,!>-,025!;20! R+,:/G2+?=!+,!21-D:,SC!,5!<,5,:20!,0!2<-2::I=!@!+/=?0G,5.,=!=2.-:2+?=!+,!9/5.-:2C! ?!9:?+-3.?=!B-,!=,25!+/DH3/0;,5.,!F/?+,<:2+2F0,=E! ! eE!'-=.253/2=!0HB-/+2=!?!+/=?0-3/?5,=E!*2=!B-,!9-,+25!G,:.,:=,!20!D:,<2+,:?C!=,! +/0-/:I5!9:,G/2;,5.,C!=?F:,!.?+?!=/!=,!.:2.2!+,!I3/+?=!@!+,!F2=,=E!"?!./:,=!20! D:,<2+,:?!9:?+-3.?=!?!:,=/+-?=!=40/+?=!B-,!9-,+25!2.2=32:0?=E!)5!,=.?=!32=?=! +,9?=/.2!0?=!:,=/+-?=!,5!:,3/9/,5.,=!2+,3-2+?=E! ! $N)'(#!)*)M6$NM#! ! `E!*2=!;IB-/52=!,0P3.:/32=!+,F,5!3?5,3.2:=,!3?5!302G/T2=!5?:;20/12+2=!@!5?! +/:,3.2;,5.,!3?5!32F0,=E!$,=9,.2!02!3?5./5-/+2+!+,!02!.?;2!+,!./,::2E!*?=!32F0,=! +,!.?;2!+,!./,::2!+,F,5!,=.2:!=/,;9:,!3?5,3.2+?=!@!>23/,5+?!F-,5!3?5.23.?E! "?!=,!+,F,:I5!25-02:!0?=!/5.,::-9.?:,=!+/D,:,53/20,=E!&5.,=!+,!-./0/12:!-5! 292:2.?!?!/5=.2023/45!,0P3.:/32C!2=,<O:2.,!+,!=-!9,:D,3.?!,=.2+?E!M?5=-0.2!20! 9:?D,=?:!?!;2,=.:?!+,!.200,:!,5!32=?!+,!+-+2E! ! ]E!K2:2!-./0/12:!-5!292:2.?!?!/5=.2023/45!,0P3.:/32C!;25/?F:2!=?02;,5.,!0?=! 4:<25?=!+,!;25+?!9:,G/=.?=!2!,=.,!D/5!9?:!,0!D2F:/325.,!?!,0!/5=.202+?:E! ! eE!*2!;25/9-023/45!+,!/5=.2023/?5,=!@!,B-/9?=!,0P3.:/3?=!+,F,!>23,:=,!3?5!02! /5=.2023/45!+,=3?5,3.2+2C!=/5!.,5=/45!@!=/5!3?::/,5.,E! ! fE!"?!-./0/3,=!5/!;25/9-0,=!292:2.?=!?!/5=.2023/?5,=!,0P3.:/32=!3-25+?! 233/+,5.20;,5.,C!=,!,53-,5.:,5!;?T2+?=C!?!=/!./,5,=!02=!;25?=!?!0?=!9/,=! ;?T2+?=E!)5!32=?!+,!2G,:H2!?!/53/+,5.,C!3?:.2!02!3?::/,5.,!3?;?!9:/;,:2!;,+/+2E! K2:2!=?3?::,:!2!-52!9,:=?52!,0,3.:/12+2!9?:!-52!3?::/,5.,!5?!+,F,=!.?32:02!=/5?! 3?:.2:!02!3?::/,5.,!+,!D?:;2!/5;,+/2.2E!'/!=,!.2:+2!+,;2=/2+?!?!:,=-0.2! /;9?=/F0,!3?:.2:!02!3?::/,5.,C!.:2.2!+,!+,=,5<253>2:02!9?:!;,+/?!+,!-5! ,0,;,5.?!2/=025.,!R.2F02C!0/=.45C!3-,:+2C!=/002!+,!;2+,:2CEEESE! &0!-./0/12:!-5!+/=9?=/./G?!?!,B-/9?!,0P3.:/3?!,5!3-20B-/,:!23./G/+2+!,=!5,3,=2:/?! 3?5=/+,:2:!0?=!=/<-/,5.,=!D23.?:,=!92:2!;/5/;/12:!,0!:/,=<?!+,!3?5.23.?=C!.25.?! +/:,3.?=!3?;?!/5+/:,3.?=Q! M?;9:?F2:!,0!G20?:!+,!02!.,5=/45!+,!.:2F2T?!+,0!,B-/9?!@!+,!02!D-,5.,!+,! 20/;,5.23/45!20!3-20!=,:I!3?5,3.2+?E! "?!-./0/12:!32F0,=!+2[2+?=C!302G/T2=!+,!,53>-D,=!:,=B-,F:2T2+2=!5/!292:2.?=!3?5! +,=9,:D,3.?=!,5!02=!32:32=2=!9:?.,3.?:2=E! )A2;/52:!B-,!0?=!,53>-D,=!.,5<25!,0!;/=;?!5O;,:?!+,!92./002=!B-,!0?=!292:2.?=! ,0P3.:/3?=!B-,!=,!3?5,3.2:I5!2!,00?=E! J./0/12:!=40?!.?;2=!+,!3?::/,5.,!2+29.2+2=!20!32F0,!+,!20/;,5.23/45!+,0!292:2.?E! "?!3?5,3.2:!32F0,=!=-,0.?=!+/:,3.2;,5.,!2!02!:,+!+,!20/;,5.23/45!,0P3.:/32!@! ,G/.2:!,0!-=?!+,!9:?0?5<2+?:,=C!2+29.2+?:,=!@!02=!3?5,A/?5,=!;O0./90,=!9?:!,0! :/,=<?!+,!=?F:,320,5.2;/,5.?!@!9?=.,:/?:!/53,5+/?!+,!02=!/5=.2023/?5,=!,0P3.:/32=E! N;9,+/:!,0!3?5.23.?!+,!0?=!3?5+-3.?:,=!3?5!=-=.253/2=!@!9:,92:2+?=!3?::?=/G?=C! 3?5!-.,5=/0/?=!3?:.25.,=!?!3?5!D-,5.,=!+,!320?:C!B-,!9-,+25!?:/</52:! +,=9,:D,3.?=!,5!=-!=-9,:D/3/,E!"?!=,!./:2:I!+,!,00?=!20!+,=3?5,3.2:!02=!302G/T2=!+,! ,53>-D,!?!20!.:2=02+2:!0?=!292:2.?=!,0P3.:/3?=E! "?!;?+/D/32:!02!:,<-023/45!+,!0?=!4:<25?=!+,!;25+?!5/!+,!0?=!+/=9?=/./G?=!+,! =,<-:/+2+C!3?;?!0?=!/5.,::-9.?:,=!2-.?;I./3?=!3?5.:2!=?F:,/5.,5=/+2+!?!3?5.:2! ,0!2-;,5.?!+,!02!.,;9,:2.-:2E! )5!2;F/,5.,=!>O;,+?=C!,0!-=-2:/?!+,F,!3?;9:?F2:!B-,!02=!/5=.2023/?5,=!@! 292:2.?=!,0P3.:/3?=!3-;9025!02=!9:,=3:/93/?5,=!+,=3:/.2=!92:2!,=.?=!32=?=E! &0!.,:;/52:!,0!.:2F2T?C!+,=3?5,3.2:!0?=!32F0,=!+,!20/;,5.23/45!@!0?=! 9:?0?5<2+?:,=E! &G/=2:!20!.P35/3?!?!9,:=?52!:,=9?5=2F0,!,5!32=?!+,Q! &92:/3/45!+,!3>/=92=!@!2:3?=!,0P3.:/3?=! ',5=23/45!+,!+,=32:<2! #0?:,=!,A.:2[?=! M20,5.2;/,5.?!25?:;20!+,!02!;IB-/52! ! ! %&VJN"&$N&!Y!)VJNK#'!K#$6L6N*)'! ! `E!)0!-=?!+,!02!;2B-/52:/2!@!,B-/9?=!9?:.I./0,=!=,!+,F,:I!:,20/12:!=,<O5!02=! /5=.:-33/?5,=!+,=3:/.2=!9?:!,0!9:?D,=?:!@h?!;2,=.:?!+,!.200,:!@!.:25=;/./+2=! +-:25.,!02!:,20/123/45!+,!02!9:I3./32E!'/,;9:,!+,F,5!-=2:=,!92:2!=-!-=?!9:,G/=.?E! )5!32=?!5,3,=2:/?C!3?5=-0.2:!02!3?9/2!+,0!;25-20!+,!/5=.:-33/?5,=!+,!02!;IB-/52! +/=9-,=.?!,5!=-=!9:?A/;/+2+,=E! ! ]E!"?!?9,:,=C!2T-=.,=!?!:,<-0,=!02!;IB-/52C!2!;,5?=!B-,!=,2!,0!?FT,./G?!+,!02! 9:I3./32!@!2=H!.,!0?!2-.?:/3,!,0!;2,=.:?!?!9:?D,=?:E! ! eE!&5.,=!+,!?9,:2:!3?5!02!;IB-/52!2=,<O:2.,!+,!B-,!.?+2=!02=!9:?.,33/?5,=! ,=.P5!/5=.202+2=!@!2T-=.2+2=!3?::,3.2;,5.,E!*2=!9:?.,33/?5,=!=?02;,5.,!9-,+,5! =,:!:,./:2+2=!,5!2B-,002=!9:I3./32=!,5!02=!3-20,=!=,2!/;9:,=3/5+/F0,!+/3>2! ?9,:23/45E!J52!G,1!D/520/12+2!+/3>2!.2:,2!+,F,:I5!G?0G,:!2!/5=.202:=,!25.,=!+,!02! 9-,=.2!,5!;2:3>2!+,!02!;IB-/52!,5!3-,=./45E! ! fE!"-532!25-0,=!?!9-,5.,,=!0?=!3?5;-.2+?:,=!?!0?=!+/=9?=/./G?=!+,!=,<-:/+2+E! ! ^E!)5!,0!32=?!3?53:,.?!+,!=,:!5,3,=2:/?=!:,<02T,=!/5.,:5?=!+,!;IB-/52C!P=.2!=,! +,F,:I!+,=3?5,3.2:C!+,TI5+?02!2!,5,:<H2!3,:?!R5,-;I./32C!>/+:I-0/32C! ,0P3.:/32CEEESE!*?=!2T-=.,=!?!:,<02T,=!>2@!B-,!:,20/12:0?=!=/,;9:,!,5!9?=/3/45! ;25-20C!5-532!,5!3/30?!2-.?;I./3?C!@!=/,;9:,!3?5!02!;IB-/52!92:2+2C! +,=3?5,3.2+2!@!2=,<-:2+2!,5!=-!5?!:,/5/3/20/123/45E! ! cE!%25.P5!,0!I:,2!,5.?:5?!+,!02!;IB-/52!0/;9/2C!?:+,52+2!@!=/5!9,0/<:?=!+,! .:?9/,1?!?!:,=F2045E!)5!32=?!+,!9P:+/+2=!+,!23,/.,C!G,:./+?=!+,!0HB-/+?=!@h?! +,::2;,=!,5!,0!=-,0?C!,=.?=!=,!+,F,:I5!:,3?<,:!92:2!,G/.2:!9?=/F0,=!:,=F20?5,=! 233/+,5.20,=E! ! lE!"?!00,G,=!;25<2=!02:<2=C!<-25.,=!?!2F20?:/?=!3,:32!+,!02!1?52!+?5+,!,=.P!02! ;2B-/52:/2!,5!D-53/?52;/,5.?E!K:?.P<,.,!,0!9,0?!02:<?!00,GI5+?0?!:,3?</+?E! ! dE!)5!*2=!?9,:23/?5,=!B-,!=,!:,20/3,5!3?5!>?:5?=C!2-.?302G,=C!?!,B-/9?=! =?;,./+?=!2!20.2=!.,;9,:2.-:2=C!-./0/12!<-25.,=!+,!9:?.,33/45!?!=/=.,;2=!B-,! ,G/.,5!,0!3?5.23.?!3?5!02=!92:.,=!=?;,./+2=!2!20.2!.,;9,:2.-:2E! ! ! bE!*2=!/5=.2023/?5,=!?!;IB-/52=!,5!D2=,!+,!9:?.?./9?C!+,!+/=,[?C!?!,5!D2=,!+,! /5G,=./<23/45C!=?5!+,!-=?!,A30-=/G?!9?:!92:.,!+,0!9,:=?520!,=9,3HD/3?! /5G,=./<2+?:C!9?:!0?!B-,!5?!+,F,5!=,:!-./0/12+2=!92:2!02!+?3,53/2!>2=.2!=-! >?;?0?<23/45!?!3,:./D/323/45C!@!=/,;9:,!3?5!,0!9,:;/=?!+,!02=!9,:=?52=! ,532:<2+2=!+,0!9:?@,3.?!/5G,=./<2+?:E! ! )%K*)#!7)!)VJNK#'!7)!'#*7&7J$&! ! `E!*?=!,B-/9?=!+,!=?0+2+-:2!,0P3.:/32!9:,=,5.25!3/,:.?=!:/,=<?=!B-,!9-,+,5! ,G/.2:=,!=/!=,!?F=,:G25!-52=!=,53/002=!5?:;2=!+,!=,<-:/+2+E!)=.2=!/5=.:-33/?5,=! +,F,5!B-,+2:!,A90/32+2=!25.,=!+,!=-!,;90,?!9?:!92:.,!+,0!9:?D,=?:!?!;2,=.:?! +,!.200,:C!D-5+2;,5.20;,5.,!,5!0?!B-,!=,!:,D/,:,!2!02!3?::,3.2!3?5,A/45!+,0! ,B-/9?!2!=?0+2:C!02!G,:/D/323/45!@!3?5=,:G23/45!+,!0?=!32F0,=!3?5+-3.?:,=C!,0! ;25,T?!2+,3-2+?!+,0!,B-/9?!@!02!:,20/123/45!3?::,3.2!+,!02!?9,:23/45!+,! =?0+2+-:2E!M?5=-0.2!,5!32=?!+,!+-+2E! ! ]E!*2=!?9,:23/?5,=!+,!3?:.,!@!+,!=?0+2+-:2!3?5!,B-/9?=!?A/23,./0P5/3?=!?! 2-.4<,5?=!=?5C!,5!-5!;20!-=?C!?:/<,5!+,!/53,5+/?=!?!,A90?=/?5,=E!*2=! /5=.:-33/?5,=!+,!=-!,;90,?!3?::,3.?!+,F,5!=,:!,A90/32+2=!25.,=!+,!=-!,;90,?! 9?:!92:.,!+,0!9:?D,=?:!?!;2,=.:?!+,!.200,:E!',!+,F,5!3?5?3,:!0?=!<2=,=! ,;90,2+?=!@!,0!:/,=<?!B-,!3?500,G2!=-!-./0/123/45C!,0!-=?!=,<-:?!+,!02=!F?.,002=!@! 0?=!:,3/9/,5.,=!+,!<2=C!,0!-=?!=,<-:?!+,!0?=!=?90,.,=!@!;25<-,:2=C!2=H!3?;?!02! 5,3,=/+2+!+,0!,;90,?!+,!,B-/9?=!+,!9:?.,33/45!/5+/G/+-20!92:2!:,20/12:!02!.2:,2E! M?5=-0.2!,5!32=?!+,!+-+2E! ! U)$$&%N)"6&'!%&"J&*)'! ! `E!)0!;20!-=?!+,!>,::2;/,5.2=!;25-20,=!,=!32-=2!>2F/.-20!+,!233/+,5.,=E!*2! ,A9,:/,53/2!+,;-,=.:2!B-,!9?:!=-!-=?!3?;O5!@!9?:!=-!292:/,53/2!/5?D,5=/G2C!2! 02=!>,::2;/,5.2=!;25-20,=!5?!=,!0,=!9:,=.2!02!+,F/+2!2.,53/45!+,!0?=!:/,=<?=!+,! 233/+,5.,!B-,!9-,+,5!9:?G?32:E! ! ]E!M?5?3,:!,0!-=?!9:,G/=.?!+,!02!>,::2;/,5.2E!6?+?!,0!;-5+?!3:,,!=2F,:!34;?! =,!-./0/12!-5!+,=.?:5/002+?:C!-52!0/;2C!-52!002G,!D/T2C!?!-5!3/53,0C!9?:!3/.2:!20<-5?=! ,T,;90?=E!'/5!,;F2:<?C!+,F/+?!2!-52!320/+2+!/;9:?9/2!+,!02!>,::2;/,5.2C! /52+,3-23/45!92:2!,0!.:2F2T?!B-,!=,!:,20/12C!-./0/123/45!+,=3-/+2+2!?!/5,A9,:.2C!?! ;20!,=.2+?!9?:!D20.2!+,!-5!;25.,5/;/,5.?!;H5/;?C!=,!>23,!/;9?:.25.,!9:,=.2:! 2.,53/45!2!02!>,::2;/,5.2!B-,!,;90,,;?=!92:2!02!.2:,2!,=9,3HD/32!+,!02!9:I3./32E! M?5=-0.2!3?5!,0!9:?D,=?:!@h?!;2,=.:?!+,!.200,:!,5!32=?!+,!+-+2C!?!=/!?F=,:G2=! 20<-52!+,D/3/,53/2!,5!02!>,::2;/,5.2E! ! eE!6:25=94:.202!=/,;9:,!+,!D?:;2!=,<-:2C!5?!02=!00,G,=!,5!02!;25?!=/!00,G2!F?:+,! 3?:.25.,C!5/!,5!0?=!F?0=/00?=E!',!00,G2:I5!=/,;9:,!3?5!0?=!D/0?=!?!9-5.2=!9:?.,</+2=! ?!:,=<-2:+2+2=E! ! fE!*2=!>,::2;/,5.2=!+,F,5!=/,;9:,!20;23,52:=,!+,F/+2;,5.,!?:+,52+2=C! 5?:;20;,5.,!,5!=-!=/./?!,=9,3HD/3?!+,!02!F2532+2!+,!.200,:!R,5!=-!=/0-,.2SE!&0! D/520/12:!=-!-=?!5?!02=!+,T,=!2F25+?52+2=!,5!3-20B-/,:!92:.,!@!;-3>?!;,5?=!,5! 02=!9:?A/;/+2+,=!+,!4:<25?=!;4G/0,=!+,!;2B-/52=E!7,G-P0G,02=!2!=-!F2532+2E!)0! +,=?:+,5!>23,!+/DH3/0!02!=,0,33/45!+,!02!>,::2;/,5.2!2+,3-2+2!@!3?5+-3,!2!=-! ;20!-=?E! ! K$#6)MMN\"!N"7NmN7J&*! ! `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eE!)=!?F0/<2.?:/?!-=2:!<-25.,=C!=?F:,!.?+?!3-25+?!,A/=.,!9?=/F/0/+2+!+,!2F:2=/45C! 3?:.,C!?!9-51?52;/,5.?C!3-25+?!=,!-./0/125!=-=.253/2=!3?::?=/G2=!?!.4A/32=C! 2+,;I=!+,!3-25+?!=,!<,5,:25!G/:-.2=!?!=,!;25/9-02!;2.,:/20!3?5!F?:+,=! 3?:.25.,=E! ! ! ! ! ! ! !